Adani US Settlement, But At What Cost?
When Narendra Modi took charge of India’s economy, he loudly promoted the slogan 'Make in India' and portrayed as if he is trying hard to attract companies from around the world to invest in the country, he however ended up with 'Make America Great Again'
[This image of Narendra Modi enjoying flight-ride with Gautam Adani in a private plane is viral nowadays. (File)]
The U.S. federal prosecutors withdrew a criminal case related to the allegations that Gautam Adani had bribed officials in India to secure solar energy projects, saying they did not have sufficient evidence. Gautam Adani and his nephew Sagar Adani settled a civil fraud case with the Securities and Exchange Commission by paying a fine of around ₹180 crore without admitting guilt. Adani Enterprises also deposited around ₹2,750 crore into the United States government treasury to resolve the allegations that it violated US sanctions on Iran by purchasing Iranian liquefied petroleum gas (LPG).
It is clear that Adani had to pay a heavy price to be cleared in America. His close friend Narendra Modi, who at one time was trying to influence Donald Trump with slogans favorable to the Trump administration, could do nothing to protect him. Instead, US continues imposing all its conditions on India, even while humiliating the country.
Adani not only paid penalties but also announced that he would invest around ₹1,00,000 crore in the American economy to create employment for 15,000 people there. His lawyer, who is also Donald Trump’s personal attorney, argued in the court that if proceedings against Adani continued, it would become difficult for him to invest in the US economy. The lawyer informed the court that Adani was prepared to invest around ₹1,00,000 crore in US infrastructure projects.
In this way, Adani effectively bought justice with money. The question is:
If Adani had committed no wrongdoing, why did he pay such huge penalties?
Perhaps his friend Narendra Modi advised him to settle the matter by paying money. Modi himself has said that, being a Gujarati, he understands the tactics and maneuvers of business very well.
Modi may have saved his friend, but he caused major damage to the country.
In 2019, at US’s insistence, India stopped buying oil from Iran. This year too, under US pressure, India reduced oil imports from Russia. However, it is now becoming clear that the benefit of buying cheap Russian oil went less to ordinary Indians and more to Mukesh Ambani’s Reliance company, which processed it at the Jamnagar refinery and exported it to European countries.
Also Read: Adani U.S. Settlement, And What Govt Should Do Now?
US wants India to buy its oil only. During the Iran conflict, when oil supplies through the Strait of Hormuz were disrupted, US first allowed India to buy oil from Russia for one month and then extended that period. US is imposing the highest tariffs in the world on Indian products compared to any other country. It has even told Bangladesh that if it wants garments made there to be sold in US market, it should buy cotton from the US instead of India.
In every possible way, US is harming Indian interests.
While the conflict with Iran was ongoing, Donald Trump announced that Mukesh Ambani’s Reliance Industries would establish an oil refinery in the US state of Texas with a processing capacity of 1,68,000 barrels of crude oil per day. Under a 20-year agreement, they would prioritize purchasing US oil, process it, and sell it. It is estimated that Mukesh Ambani will invest around ₹30,00,000 crore in this refinery. Its construction will generate employment for 2,000 people and operational jobs for 300.
When Narendra Modi took charge of India’s economy, he loudly promoted the slogan “Make in India” and tried to attract companies from around the world to invest in India. The whole country believed that his foreign visits were organized to attract foreign investment into India. But now his two favorite corporate friends are investing in the American economy instead—or, the US has compelled him to make them invest there.
Has unemployment in India ended, that Indian industrialists will now invest in America to create jobs for Americans?
Everyone remembers how Gujaratis and Punjabis, who as illegal immigrants went to the US in search of jobs, were handcuffed and deported back to India on aircraft meant to carry goods. What did India do in response? It detained some alleged Bangladeshis who had come to Delhi seeking employment and deported them to Bangladesh. Later it was discovered that among them was a pregnant Indian woman, who had to be brought back after a court order. Yet India said nothing to the US.
After the terrorist attack in Pahalgam, seven delegations were sent abroad with much publicity to convince the world that Pakistan sponsors terrorism. Yet Pakistan was made vice-chair of the United Nations Security Council’s Anti-Terrorism Committee and also chair of the Taliban Sanctions Committee. The US President invited Pakistan’s Army Chief Field Marshal Asim Munir to the White House. Even now, for negotiations regarding a ceasefire with Iran, US is relying on Pakistan’s assistance. Thus, US has effectively neutralized India’s entire diplomatic campaign against Pakistan. Yet the Indian government’s response remains silence. Why does India’s Prime Minister appear so helpless before the US?
Now Narendra Modi’s political character stands exposed before everyone. He displays false bravado before Pakistan but falls silent before global superpowers like US and China. In relation to US, he has almost turned India into a subordinate or colonial state. This is the greatest danger of Hindutva nationalism: it appears powerful only when circumstances are favorable; the moment conditions turn adverse, it retreats and disappears. It will never confront any danger.
[The writer, Sandeep Pandey, is the Secretary General of the Socialist Party (India). Reach him via email: ashaashram@yahoo.com. Views are personal.]
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